1 1 FINANCIAL INFORMATION
Questions concerning these awards shou ld be referred to the Financial Aid Office. FEDERAL AID The PELL GRANT program is a federal program wh ich is designed to assist students with financial need. The maximum grant for 1991-92 was $2,400. The SuPPLEMENTARY EDUCATIONAL OPPORTUNITY GRANT (SEOG) pro gram, supported by the federal government, is for undergraduate students and is based on financial need. WoRK STUDY emp loyment on campus is availab le to students who can demonstrate financial need. Under this program federal funds pay 70% of a stu dent 's wages, while the University pays the remain ing 30%. Wages paid to students in the work study program vary according to the student's qualifica tions and duties performed. Under the PERKINS LOAN (formerly NDSL), a student may borrow up to $4,500 in his first two years of study and $9,000 by the end of his first undergradu ate degree. Availability limited. Must demonstrate need. Repayment of Perkins loan begins nine months after graduation or withdrawal from school. If the total amount is paid within nine months of gradua tion, interest will not accrue. Payments may be extended over a ten-year period at fi ve percent inter est on the unpaid balance. Members of the armed forces on active combat duty and students who transfer to other schools to complete undergraduate or graduate work, may defer payment and interest and extend the repayment period. STAFFORD LoANS (FORMERLY GSL) are available through local banks, credit unions and savi ngs and loan associa tions, for citizens and nationals of th e United States, or those in the country for other than a temporary purpose. It is the lender's option to make or deny the loan. Banks may require a deposit relationship . The program all ows students to borrow up to $2,625 as freshmen and sophomores and up to $4,000 as juniors and seniors. Applications for Staffords may be obtained from the Financial Aid Office. The student may defer payment until the sixth month after graduation. Interes t is charged at a rate of eight% per year for the first fou r years and 10% after four years. The stud ent has up to ten years to repay the loan. SUPPLEMENTAL LoANS FOR STUDENTs-SLS/PLUS. Graduate students, independent students and parents may borrow up to $4,000 annually at a variable interest rate. Repayment may be deferred while the student is enroll ed in six or more units. Interest continues to accrue during this time. Some banks do provide deferment options. STATE AID CAL GRANT A's are made available to hundreds of California residents each year. Eligibility is based on G.P.A. and financial need. In addition, several stu-
Must file SAAC or FAF. M1ss10NARY/PAsToR's DEPENDENT SCHOLARSHIPS ($1,600). All depen dents of pastors or missionaries (primary family income must be through a church or mission board ) will be awarded a $1,600 scho larship each year of attendance. Dependents of pastors/ missionaries must file SAAC or FAF and the appropriate applica tion (availabl e in the Financial Aid Office) to receive this scholarship. CHRISTIAN WORKERS DEPENDENT ScHoLARSHIP ($1,000) . All dependents of parents employed by a Christian non-profit orga nization will be eligible for a $1,000 scholarship. Dependents of Christian workers must file the SAAC or FAF and the appropriate applicatio n (available in Financial Aid Office) to receive this scholarship. CHuRcH MATCHING ScHoLARSH1P (Up to $500 from Biola). Open to all Biola students. Biola will match one award per year up to $500 for a full-time stud ent. The match is prorated for part-time and Doctor of Ministries students. The Church 's award must be submitted in fu ll within the first four weeks of the semester, and must be accompanied by the Church Matching Scholar ship Application signed by the pastor or Church Board Member. Fall semester deadline is Oct 1. Spring semester deadline (for spring entrants on ly) is March 1. PRESIDENT'S AWARD. Full tuition. Senior standing with intention to graduate at the end of the school year required, along with a minimum 3.60 GPA, ?? atten dance at Biola for at least two years as well as person al qualifications. Mu11C AWARDS, are made by the music department to music majors with high-performance and scholastic capabilities. The scholarship must be used for the area in which the applicant auditioned. Recipients may also be required to participate in an ensemble activity. Two specially designated scholarships are open to organ and composition majors on an annual com petition basis. These prestigious awards, equal to the highest scholarship granted, are The Rayner Brown Scholarship for Composition, and The Timothy Howard Scholarship for Organ. ATHLETIC ScHoLARsH1Ps are offered to students who demon strate outstanding ability and ach ievement in a par ticular sport. foREN11cs SCHOLARSHIPS are offered to participants on the school's competitive speech team. Students award ed this scholarship are not necessarily communica tion majors . BIOLOGICAL SCIENCE PRE-MED SCHOLARSHIPS up to $500 per semester are available to upper division biological science majors. The scholarship is based on need and pre med potential. Application forms availabl e from the pre-med advisory committee, department of biologi cal science. In addition to those offered by the school, other scholarships are provided through the generosity of donors.
Renewable merit scholarships are available to high ranking freshmen and transfers. Inc/11ded are honor scholarships, dean's scholarshi/Js, leadership awards, and the ethFic scholars program. Amounts range from $2,000 to f111/ l11ilio11.
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